RIG Continues In Its Channel

I put this RIG chart together earlier this month and it continues to hold true. No major consolidation just a channel trade with higher lows getting put in. With global shipping becoming a bigger point of interest right now RIG could be one to watch (assuming they don't do something stupid like raise money at a drastic discount).

"the oil demand this year has only started to rise in the past six months. This is a clear reflection of the effects of the pandemic coming to an end. While no one knows exactly when the pandemic will end, it looks like people are beginning to resume travel internationally and domestically. For this reason, many investors are betting on the future of the energy industry. Whether this is enough to make RIG stock worth watching is up to you."

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